[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1065 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 1065

 To protect the Social Security system and to amend the Congressional 
 Budget Act of 1974 to require a two-thirds vote for legislation that 
    changes the discretionary spending limits or the pay-as-you-go 
provisions of the Balanced Budget and Emergency Deficit Control Act of 
1985 if the budget for the current year (or immediately preceding year) 
                          was not in surplus.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 15, 2001

 Mr. Andrews introduced the following bill; which was referred to the 
Committee on Ways and Means, and in addition to the Committee on Rules, 
   and the Budget, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
 To protect the Social Security system and to amend the Congressional 
 Budget Act of 1974 to require a two-thirds vote for legislation that 
    changes the discretionary spending limits or the pay-as-you-go 
provisions of the Balanced Budget and Emergency Deficit Control Act of 
1985 if the budget for the current year (or immediately preceding year) 
                          was not in surplus.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Save Social Security First Act of 
2001''.

SEC. 2. TRANSFER OF FUNDS.

    At the end of each fiscal year for which the budget is in surplus, 
the Secretary of the Treasury shall transfer from the general fund of 
the Treasury an amount equal to that surplus to the Federal Old-Age and 
Survivors Insurance Trust Fund and the Federal Disability Insurance 
Trust Fund. The amounts so transferred shall be divided between the 
trust funds in the same proportion as all other receipts of those trust 
funds in that year.

SEC. 3. INVESTMENT OF TRANSFERRED FUNDS.

    Within 90 days after the date of enactment of this Act, the Board 
of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund 
and the Federal Disability Insurance Trust Fund shall promulgate 
guidelines to govern the investment of amounts transferred under 
section 2 and shall submit such guidelines to each House of Congress. 
If Congress, by law, disapproves such guidelines, then they shall have 
no force or effect after the date of enactment of such Act and the 
Board of Trustees shall invest those amounts in the same manner as 
other moneys in such Funds are invested.

SEC. 4. DISCRETIONARY CAP OR PAY-AS-YOU-GO MODIFICATION MAY REQUIRE 
              TWO-THIRDS VOTE.

    Section 312 of the Congressional Budget Act of 1974 is amended by 
adding at the end the following new subsection:
    ``(g) Discretionary Cap or Pay-As-You-Go Modification May Require 
Two-Thirds Vote.--
            ``(1) If--
                    ``(A) the budget for the current year was not in 
                surplus (or, if actual figures are unavailable, then if 
                the Director of the Congressional Budget Office did not 
                project a surplus for that year); or
                    ``(B) the budget for the fiscal year immediately 
                preceding the current year was not in surplus;
then any bill, joint resolution, amendment, or conference report that 
repeals, increases, or waives any discretionary spending limit set 
forth in section 251 of the Balanced Budget and Emergency Deficit 
Control Act of 1985 or repeals or waives section 252 (pay-as-you-go 
sequestration) of that Act shall not be considered as passed or agreed 
to unless so determined by a vote of not less than two-thirds of the 
Members voting.
            ``(2) Definitions.--As used in paragraph (1), the term 
        `current year' has the meanings given to such term in section 
        250(c) of the Balanced Budget and Emergency Deficit Control Act 
        of 1985.

SEC. 5. TECHNICAL AMENDMENT.

    Any transfer required by section 2 shall not count as an outlay for 
purpose of the pay-as-you-go requirement contained in section 252 of 
the Balanced Budget and Emergency Deficit Control Act of 1985 and shall 
be exempt from any sequestration under that Act.
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